costly mortgage mistakes and how to avoid them by equity direct funding

6
Costly Mortgage Mistakes and How to Avoid Them

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Page 1: Costly mortgage mistakes and how to avoid them by Equity Direct Funding

Costly Mortgage Mistakes and How to Avoid Them

Page 2: Costly mortgage mistakes and how to avoid them by Equity Direct Funding

One way people get in trouble with home ownership is borrowing too much money

Remember that you’ll also have bills to pay, property taxes, etc

Most advisors will tell new buyers to keep an ‘emergency reserve’

Borrowing Too Much Money

Page 3: Costly mortgage mistakes and how to avoid them by Equity Direct Funding

You’ll hear a lot about ‘Fixed-Rate’ or ‘Adjustable-Rate’ loans and it’s important to understand the difference between the two

Fixed-Rate loans are ‘stationary’—the rates don’t change throughout the entire term of the loan

Adjustable-Rate loans are those with rates that fluctuate depending upon a benchmark set

For more information, check out Equity Direct Funding

What Type of Loan Should You

Get?

Page 4: Costly mortgage mistakes and how to avoid them by Equity Direct Funding

We are all familiar with extra ‘fees’ added on to cell phone bills, utility bills, etc, and lenders are no exception

You might see, for example, a ‘document preparation’ fee or an outrageous fee for a credit check

Do your homework and get other quotes before you decide on a lender so you can minimize these. Once resource is Equity Direct Funding

Do Your Homework

on Fees

Page 5: Costly mortgage mistakes and how to avoid them by Equity Direct Funding

After purchasing a home, you still have to have the money to move into it.

Check on utility hook-up costs, moving truck expenses, and so on. They can add up!

Remember, You Want to LIVE in the House, Not

Just BUY It!

Page 6: Costly mortgage mistakes and how to avoid them by Equity Direct Funding

When the process is over, remember to ENJOY your

new home!

Congratulations!!!